OECD unemployment rate constant at 4.9% in July

By Tuba Ongun

The unemployment rate in the Organization for Economic Cooperation and Development (OECD) area in September was stable at 4.9%, according to data released on Thursday.

The number of jobless in the OECD fell by 393,000 from a month earlier to 34 million as of September, with the largest declines seen in the US, the Paris-based organization said.

While six OECD countries saw an unemployment rate below 3.0%, Spain was the sole country with a double-digit rate, 11.2%.

Unemployment was broadly stable for both women and men, with rates of 5.1% and 4.7%, respectively, in September.

The youth (age 15-24) jobless rate fell to 11.2% in September from 11.5% in August.